Business Schools Want You Now More Than Ever

According to Educational Testing Service, the big standardized testing organization, more and more business schools are accepting the Graduate Record Examination from applicants in place of the traditional Graduate Management Admission Test.

Now even Harvard Business School has announced it will join the trend. The GRE is used for admission to graduate schools in general while the GMAT is just for business schools, but they cover the same basic skills and measure math knowledge in the same way.

According to Deirdre Leopold, managing director of admissions and financial aid, Harvard Business School is accepting GREs for the first time as part of the school's new 2 + 2 Program. In 2 + 2, students apply as undergraduates; if they are accepted, they spend two years in the workforce before beginning the two-year master of business administration program. No other part of Harvard Business School will accept GREs for at least another year.

Mark McNutt, a spokesman for ETS, says one reason business schools are embracing the GRE is because it brings in a more diverse applicant pool. "The typical model of an MBA student isn't working," he admits. "Schools are seeing value in recruiting creative people."

McNutt says that allowing the GRE in place of the GMAT should attract students who wouldn't have traditionally pursued a business degree, such as English majors and artists.

MIT, Stanford, the University of Chicago, Johns Hopkins and Instituto De Empresa in Madrid are all jumping on the GRE bandwagon. David Bach, associate dean of MBA programs at Empresa, echoes Mark McNutt: "Accepting the GRE supports our efforts to attract high-quality participants from very diverse backgrounds, including students who might not have previously contemplated an MBA."

He adds, "We realize that we need to recruit the best and most diverse students. Therefore, we have to accept different tests and test formats, provided they are well-suited to select the best."

Representatives of the University of Chicago and Stanford have also voiced their desire to reach a larger applicant pool with the GRE. According to ETS, the GRE is offered in 165 countries, whereas the GMAT is offered in only 100, so schools that take the GRE can hope to build a more international student body.

Still, some schools, like Wharton, in Philadelphia, are standing firm with the GMAT. "Wharton has in no way committed to changing its testing policies," says Kathryn Bezella, associate director of MBA admissions at Wharton.